UPI's 2026 shake-up: what PhonePe and Google Pay below 80% means for D2C brands
UPI processed 28.92 lakh crore rupees in June 2026 as the PhonePe-Google Pay duopoly slipped below 80% for the first time. What diversification, NPCI's 30% cap, and the MDR debate mean for D2C checkout in 2026.
